Votorantim Cimentos sells 30-year bonds, Brazil

Votorantim Cimentos sells 30-year bonds, Brazil
03 February 2012

Votorantim Cimentos of Brazil completed a US$500m sale in the US credit markets Thursday, according to a person familiar with the issue.

The 30-year bond deal was a reopening or, or addition to, a US$750m issue of 7.25% coupon bonds originally sold in April 2011.

The bonds were priced to yield 7.30%, or 432.2 basis points over the Treasury rate.

The anticipated ratings are Baa3 from Moody's Investors Service and BBB from Standard & Poor's.
Fitch Ratings issued a BBB-minus rating on Thursday, citing the company's "long-term underlying fundamentals" in its industrial businesses.

Source: Fox Business

Published under Cement News

Tagged Under: Brazil Votorantim